In Life Lessons
New to Canada? Check Out the TD â€œNew To Canadaâ€ Banking Package!By amin | Comments: 0 | September 13, 2016
Disclaimer: This post/series was sponsored by TD, but all views/opinions are my own.
If youâ€™re reading this, that probably means youâ€™re new to Canada and wondering how to get settled here as quickly as possible. One of the first things you may want to do is open up a bank account.
Let me tell you from my own personal experience, having numerous bank accounts and products with several banks is difficult to manage and so not convenient. When I was younger I didnâ€™t realize all the various products and services I would eventually need from my bank. Instead I focused on what I needed at THAT very moment and opened up a bank account with the first bank I came across. Later in life when I needed loans to go to school, to buy a car, to start contributing to my RRSPs, and to eventually buy my first homeâ€¦I had products and services all over the place and trust me, itâ€™s so frustrating having to deal with multiple banks. For you, being new to Canada is tough enough when youâ€™re trying to figure everything out here so please avoid my mistake of not thinking ahead. What you want to do is to make sure the bank you pick can provide you everything youâ€™re going to need nowâ€”AND in the future.
In my previous post, I shared my advice on what you need to look at for your banking needs and today Iâ€™m going to tell you how TD has a package that they created just for newcomers! Check out their â€œNew to Canadaâ€ banking package that has everything you would need to get started. The package includes: chequing account, savings account, and credit card options. See TD website for more details or better yet, why donâ€™t you go to your nearest branch. Many TD branches have employees who speak multiple languages.
Having dealt with banks since I was a young student, here are some of my personal tips for making the best banking decisions for you and your family.
1. Donâ€™t be afraid to ask questions!
There is no such thing as a â€˜wrongâ€™ question. If youâ€™re unsure about something or something doesnâ€™t make sense, ask for clarification until you understand it. Banking terms and requirements can get confusing and the financial advisors at the bank understand this. They will take the time to explain anything you ask themâ€”thatâ€™s why they are there!
Whenever I make big decisions, I like to gather information from a variety of sources. I ask my friends and family about their experiences and research online. When I was looking into buying my first home, I spoke to many people about their mortgages experiences, what their rates and terms were, who they banked with, etc. Reading up on mortgages in the news or talking to friends/family can sometimes bring up a question or issue that you may not have considered. Hearing about other peopleâ€™s experiences helped me know what questions I had to ask my mortgage advisor to make my decision. A good starting point is checking out the bankâ€™s websiteâ€”for TDâ€™s website, click here.
Itâ€™s important you feel confident in your decision. If youâ€™re unsure what is being offered to you is the best for you, go ahead and compare. Just like you wouldnâ€™t buy a car without shopping around, compare the banking products you are looking for and make a decision that fits your requirements. For example, there are a number of credit cards you can choose from. Compare the ones you are interested in to ensure you pick the best one to fit your lifestyle and needs.
4. Take your time.
Nothing has to be rushed. Take whatever amount of time you need to research, ask questions, and compare products. Making decisions for your financial needs shouldnâ€™t be taken lightly so donâ€™t feel pressured to sign up for something on the spot. When you feel ready, you will know it.
5. Get to know your financial advisor!
This was so important for me when I moved to Toronto. I didnâ€™t know anyone when I came here but all I had to do was walk into my nearest TD branch and ask for help. Right away I met with a financial advisor who not only helped me with the issue I had but she took the time to get to know me. We actually really hit it off and she gave me her direct office number for any future inquiries. Every time I would go back to that branch, it was nice to see a familiar face and chat about whatever issue I was having. She got to know me to the point where she had a better understanding of my needs and expectations and I got to feel comfortable knowing that I had someone I knew there to help me whenever I needed. It really makes a difference when you get to know your financial advisorâ€”itâ€™s all about establishing trust and comfort.